Copley, Ohio Property Taxes
The median property tax rate in Copley, OH is 1.40%, which is higher than both the national median of 0.99% and the Ohio state median of 1.80%. With a median home value of $249,180 in Copley, the typical annual property tax bill amounts to $3,252, surpassing the national median of $2,690. Property taxes in Copley are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Copley's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Copley or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Copley, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.4%
Estimate Property Tax Bill
$3,489
Ownwell’s Copley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Copley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Copley to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Copley, Ohio
Property taxes in Copley, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Copley is 1.40%, significantly higher than the U.S. national median of 0.99%. Local government entities within Copley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Copley estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Copley's effective property tax rate to other areas in Ohio and the national median. For comparison, the 44321 zip code has the highest median property tax rate of 1.40%, while the same zip code also has the lowest median tax rate of 1.40%. Understanding how these areas compare with Copley provides valuable insights into the varying tax landscape across Medina County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Copley Tax Rate
1.40%
Average Medina County Tax Rate
1.53%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Copley, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44321 | 1.24% | 1.39% | 1.40% | 1.41% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Copley, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Copley, Ohio. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Medina County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in Copley are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For example, the median home price in Copley is $249,180, with tax bills ranging from $2,679 at the 25th percentile to $4,567 at the 90th percentile. The zip code 44321 has the highest and lowest median tax bill, both at $3,252. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Copley Assessed Value
$249,180
Average Medina County Assessed Value
$233,850
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Copley, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44321 | $169,344 | $208,230 | $249,180 | $291,200 | $327,752 |
Source: Ownwell
Property Tax Bills Across Copley, Ohio
In Copley, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is a percentage of the property's market value, and this rate can vary depending on local regulations. Factors such as property location, size, and improvements can influence the assessed value. For example, a median home price in Copley is $249,180. Homeowners in Copley can expect their tax bills to fall within certain ranges. For instance, the 25th percentile tax bill is $2,679, while the 75th percentile tax bill is $4,033. The 90th percentile tax bill reaches $4,567, indicating a significant variation depending on property characteristics. Comparatively, the national median property tax rate is 0.99%, which provides context for evaluating local tax burdens. High property taxes can impact homeowners by increasing monthly expenses, but they also contribute to funding essential community services like schools, infrastructure, and emergency services.
Average Copley Tax Bill
$3,252
Average Medina County Tax Bill
$3,537
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Copley, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44321 | $2,238 | $2,679 | $3,252 | $4,033 | $4,567 |
Source: Ownwell